20 Ways Business Brokers Pay For Themselves
Selling a business can be overwhelming. Here, we explore 20 ways that business brokers pay for themselves when selling a business.
How Much Does it Cost to Sell a Business?
As an intermediary, I have many conversations with business owners about how much their business is worth. As these conversations progress, owners realize that it’s not how much they make, it’s how much they can keep that truly matters.
Closing Business Deals in the COVID-19 Era
The COVID 19 Era has begun. In addition to lives lost, there’s an economic toll that has yet to be determined at the time this content is being written. With small businesses on life support, these are scary times for business owners and for the intermediaries helping owners navigate through them. So how has COVID 19 affected business transactions?
Tips for Expediting the Sale of Your Small Business
As a business broker serving business owners who want to explore their options for exit, I get this question at almost every listing appointment:
“How long will it take to sell my business?”
The research indicates the answer is as follows:
For businesses that sell for under two million dollars, the IBBA’s research indicates it’s going to take 7-9 months…
Essentially you could have a baby in the time it takes to sell a business.
Many owners aren’t excited about this answer, but there are a few things you can do to expedite the sale of your small business. Let’s explore how to sell a business quickly.
Won’t My Business’s Assets Increase the Value of my Business?
As a business intermediary helping owners determine the “Most Probable Sales Price,” or MPSP of their businesses here in the Triangle, I hear a common question:
“That value makes sense, but what about all my stuff? Can I get paid for that too?”
The answer is rarely what the business owner wants to hear, but there’s a sound reason for it, and understanding how businesses are priced can help an owner with decisions on how to allocate resources for assets; especially if they are planning to sell in the near future.
In this article, we’ll explore the market approach for small businesses and what value the assets carry…
When to Hire a Business Advisor
Doing deals can be expensive. A lot of entrepreneurs want to save money by not hiring an advisor or they don’t know when they should make the investment on an advisor. It’s important to understand the roles of the broker and other advisors, especially legal counsel, and to know when to bring in a professional. Here are some milestones in a deal, and how to know when to hire a business advisor.
How Can a Broker’s Opinion of Value Help a Business Owner?
A Broker’s Opinion of Value, or BOV, can help an owner determine what the business would sell for on the open market. This, in relation to an owner’s “pain” level, are often enough to make a decision if they are ready to sell.
5 Differences Between a Business Broker & Real Estate Broker
Often successful business owners invest in real estate because it can be a tax efficient way to handle the retained earnings of a business. And when it comes to exit planning, business owners with real estate have more exit options. This is a good thing. For...
Top Seven Important Deal Terms When Selling a Business
v Have a Question? Add it to the bottom of this post! Yes it’s easy to get fixated on the sale price. It’s the number you tell people years after the sale if you want to brag. But much like losing weight, sale price is only part of the equation. After all, the...
How to Successfully Acquire A Business In A Seller’s Market
v Have a Question? Add it to the bottom of this post! As a business broker in North Carolina, I’m focused on seller representation. But I need great buyers to match with my great seller’s opportunities. In our office, we receive a lot of buyer inquiries, but few are...
Commercial Lease Assignment When Selling Your Business
v Have a Question? Add it to the bottom of this post! Commercial Lease Assignment Problems As part of selling your business, the lease can be one of the most overlooked barriers to completing the deal. The buyer and seller may have a “meeting of the...